4 Free Foreclosure Lists For Real Estate Investors
Free foreclosure lists are one simple approach to finding discounted houses. No matter if you’re searching for fix and flip houses, rental properties or even various other great property purchases, free foreclosure listings are fantastic methods to begin your search. When you are searching for free foreclosure lists, there are a couple of things you must consider so your efforts pay off.
Every free foreclosure listing and every free foreclosure list is likely a little different. And, there are essentially 4 types of free foreclosure lists you will find once you start looking. Probably the most important points that you should understand when you find your list is what type of free foreclosure list you get. This is very important because laws and regulations change based on what list you are considering. So, allow me to simply jump right in and show you the 4 different types of free foreclosure listings that you will find.
List 1: The Free Foreclosure List Before The Filing Date
The first free foreclosure list is what I would label pre-foreclosure before the filing date because the houses on this list happen to be shown before the initial foreclosure filing is completed. There has been no paperwork recorded by the bank at this time. The owners of the house might be behind with their payments and things are most likely not looking great financially for them but they are actually not to the point of getting the Notice of Election and Demand actually filed. That is one of the kinds of free foreclosure lists that you will find while searching.
List 2: The Free Foreclosure List After The Filing Date
The next listing of free foreclosure listings will be posted after the filing day. When the bank has taken the motion to file the Notice of Election and Demand, the free foreclosure list goes into what I will call the pre-foreclosure after the recording date. Now, a lot of things change when you are getting a property foreclosure list that is within this specific period of time. It is really an important thing to know simply because by law, from state to state, what you can do to solve the homeowners money issues at this point of time varies considerably. This is the 2nd kind of free foreclosure list that you are likely to find.
List 3: The Free Foreclosure List At The Sale
The third listing is what I would call the sale date foreclosure list. It is the list with houses scheduled for foreclosure with the county. This specific foreclosure list can be obtained at a moment in time that the lender has gone through the entire course of action and has eliminated their options other than foreclosure but now the foreclosure has become virtually inevitable. There is a date fixed with the county and the property is in fact destined to be sold at the foreclosure sale. This kind of free foreclosure list is actually during that time period following the recording date but prior to the specific foreclosure day.
List 4: The Free Foreclosure List After The Sale
Lastly, the 4th free foreclosure list you will see, and you should find these types of free foreclosure listings in pretty much every area across the country, is after the foreclosure sale itself. This list is known as bank owned properties or even REO. And so the 4th free foreclosure listing group that you will find tend to be bank owned properties. The foreclosure has taken place and after this the homes are owned by the bank.
And so if you are looking for free foreclosure listings, these are the 4 various kinds of free foreclosure lists which are available that you could get your hands on. You can use this knowledge to buy greatly discounted properties that you can purchase as good real estate.
Rob Swanson is the editor of Wholesaling Newsletter. Claim your 100% free copy right now to learn how you can quickly wholesale real estate without cash, credit or risk.
Comments
Leave a Reply
You must be logged in to post a comment.